New Stock News | Hansoh Pharmaceutical Group Co., Ltd. (03378) IPO oversubscribed 2511 times with a total subscription amount of 147.29 billion Hong Kong dollars.

Biotechnology company Honeymoon Bio-Tech (03378) conducted its IPO from December 15th to December 18th, which has now concluded. According to market sources, Honeymoon Bio-Tech has received a margin loan of 14.729 billion Hong Kong dollars for its IPO, with a public fundraising amount of 58.63 million Hong Kong dollars, oversubscribed by 2511 times. Honeymoon Bio-Tech plans to issue 18.321 million H-shares, with 10% of them for public sale in Hong Kong. The offering price per share is between 28 and 32 Hong Kong dollars, with a board lot of 100 shares and an entry fee of 3,232.3 Hong Kong dollars per board lot, raising up to 590 million Hong Kong dollars. The company is expected to be listed for trading on December 23rd, with ICBC International as its exclusive sponsor. For this IPO, Honeymoon Bio-Tech has brought in seven cornerstone investors including Fidelity Resources, Sage Partners Master Fund, Guotai Junan Securities Investment (Hong Kong) Limited (related to Kunchung OTC swaps), TFI Investment Fund SPC (acting for and on behalf of its independent investment portfolio TFI Lakeside SP), Main Source Capital Limited, YStem Capital, and Spring Thunder Capital Limited, with a total investment of 93.37 million Hong Kong dollars, subscribing for a total of 2.9178 million shares, accounting for 15.93% of the global offering. The prospectus shows that Honeymoon Bio-Tech is a biotechnology company with proprietary expertise and experience in structural biology, translational medicine, and clinical development. Since 2016, Honeymoon Bio-Tech has developed a pipeline of products, including a core product and nine other candidate products, namely (i) three clinical stage candidate drugs for oncology, including the core product HX009 and the main products HX301 and HX044; and (ii) seven preclinical stage candidate drugs, including antibody-drug conjugates, bispecific antibodies, and monoclonal antibodies for the autoimmune and oncology markets. Prior to the reporting period, the company also developed HX008, which has been transferred to a biopharmaceutical company specializing in cancer therapy. Honeymoon Bio-Tech's core product HX009 is a bispecific antibody fusion protein targeting CD47 and PD-1 simultaneously. According to a Frost & Sullivan report, as of the last feasible date, the clinical trial progress of HX009 is among the world leaders in similar CD47-targeting bispecific antibody/bifunctional fusion protein products. On the financial side, during the reporting period, Honeymoon Bio-Tech did not make a profit and recorded operating losses. For the year ended 2023, 2024, and the eight months ended August 31, 2025, the company recorded annual/period losses of 85.16 million yuan, 117 million yuan, and 87.438 million yuan. The company's comprehensive loss primarily comes from R&D costs and administrative expenses. According to the prospectus, Honeymoon Bio-Tech plans to use approximately 35% of the net proceeds from the global offering for the R&D of its core product (HX009); approximately 33% for the R&D of its main products (HX301 and HX044); approximately 17% for the R&D of other important products; approximately 5% for providing funds for commercialization and/or business development activities; and approximately 10% for working capital and other general corporate purposes.